Atlanta Braves Holdings Inc Reports Second Quarter 2024 Financial Results
Atlanta Braves Holdings, Inc. Reports Second Quarter 2024 Financial Results
Atlanta Braves Holdings, Inc. ("ABH") (NASDAQ:BATRA, BATRK) has announced its financial results for the second quarter of 2024, ending June 30, 2024.
Key Financial Metrics
Metric | Amount | YoY Change | Consensus Estimate |
---|---|---|---|
Total Revenue | $283 million | +5% | $285.85 million |
Operating Income | $25 million | +28% | N/A |
Adjusted OIBDA | $46 million | +9% | N/A |
Interpretation: ABH’s total revenue in the second quarter showed a 5% year-over-year increase, falling slightly short of the consensus estimate of $285.85 million. The company demonstrated strong improvements in operating income and adjusted OIBDA, rising by 28% and 9% respectively, indicating solid operational efficiency and profitability growth.
Segment Revenue Performance
Segment | Revenue | YoY Change |
---|---|---|
Baseball Revenue | $266 million | +4% |
Mixed-use Development Revenue | $17 million | +11% |
Interpretation: The baseball segment generated $266 million in revenue, showing a 4% year-over-year growth spurred by new sponsorship agreements and rate increases. The mixed-use development segment also performed well, with an 11% increase in revenue driven by rental income and higher parking revenue. Overall, the results align with ABH's growth strategy.
Comments from Company Officers
No specific comments from company officers were provided in the earnings release.
Dividends and Share Repurchase Program
No information on announced dividends or share repurchase programs was provided in the earnings release.
Forward Guidance
No forward guidance was provided in the earnings release.
Stock Price Movement
After the earnings release, ABH’s stock price saw an increase of approximately 4.89%.
In conclusion, Atlanta Braves Holdings, Inc. delivered a solid performance in the second quarter of 2024, with noticeable growth in key financial metrics and segments, despite a slight miss on revenue consensus estimates. The stock market reacted positively, driving a notable increase in share price post-announcement.
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